The global therapeutic respiratory devices market size was valued at USD 8.2 billion in 2016 and is expected grow at a CAGR of 9.10% during the forecast period. Growing geriatric population base, rising prevalence of respiratory diseases, and rapid technological advancements are the factors driving the market growth. Moreover, increasing adoption of therapeutic respiratory devices such as humidifiers, nebulizers, and oxygen concentrators are expected to fuel the growth of the market.
The rising prevalence of respiratory diseases such as Chronic Obstructive Pulmonary disorder and sleep apnea is expected to drive growth of the market. According to WHO estimates, 65 million people suffer with moderate to severe COPD. Moreover, as per the WHO estimates, COPD is predicted to be the third leading cause of death worldwide. Increasing need of emergency treatment for prolonged illnesses and protracted treatment associated with lung diseases in children as well as adults are expected to drive the growth of the market.
Respiratory therapeutic devices are preferred by the physicians and patients for the treatment of respiratory disorders as these devices provide medical intervention in acute as well as chronic patient care. According to Centers for Disease Control and Prevention (CDC), there were approximately 12.7 million adults aged over 18 reported to have COPD in the U.S. Moreover, according to WHO estimates, potentially fatal respiratory diseases, including tuberculosis, COPD, and lung cancer will account for about one in five deaths worldwide by 2030.
Growing prevalence of sleep apnea is also the most significant growth driver of this market. According to the statistics published by the National Sleep Foundation, around 40 million Americans were affected by chronic sleep disorders in 2012. Moreover, prevalence of obstructive sleep apnea was calculated at 12 million in the U.S. with a diagnosis rate of approximately one in 22. The prevalence of this disease is expected to constantly rise during the forecast period, owing to the growing prevalence of cardiovascular diseases, hypertension, obesity etc. Such factors are anticipated to drive the growth of the market.
Based on the products, the market is segmented into nebulizers, humidifiers, oxygen concentrators, positive airway pressure devices, ventilators, capnographs, and gas analyzers. Positive airway pressure devices was estimated to dominate the market with more than 52% of the revenue share in 2016 and is anticipated to register fastest growth in the forecast period.
This can be attributed to increasing incidences of obstructive sleep apnea are responsible for the growth of this segment. This is attributed to lifestyle-associated factors such as obesity, alcohol consumption, smoking, and conditions such as craniofacial abnormalities. According to National Healthy Sleep Awareness Project, as of 2014, at least 25 million people in the U.S. are reported to have obstructive sleep apnea. Increasing use of these devices by the geriatric patient base is also responsible for the growth of therapeutic respiratory devices market.
On the basis of technology, the market is segmented into electrostatic filtration, HEPA filter technology, hollow fiber filtration, and microsphere separation. HEPA filter technology dominated the market in 2014 with around 37% of the revenue share. High Efficiency Particulate Air (HEPA) filters are employed for particle removal and retention in different therapeutic respiratory devices. As per the CDC guidelines, the therapeutic devices must be equipped with the HEPA filtration technology for air filtration. The prevalence of respiratory diseases and their transmission are among the factors that drive the demand for HEPA filter technology. As per the U.S. States Department of Energy (DOE), HEPA filters remove 99.97% of all particles that are greater than 0.3 microns. The technological advancements in the segment are expected to produce positive impact on the market in the next seven years. These advancements include washable HEPA filters and HEPA 4 technology, which has Minimum Efficiency Reporting Value (MERV) rating of the filter. It is used to rate the ability of air filter to remove particulate matter from air.
Based on filters the market is segmented into nebulizer filters, humidifier filters, positive airway pressure devices filter, oxygen concentrator filters, and ventilator filters. Humidifier filters is anticipated to register fastest growth during the forecast period with 13.0% CAGR. The rising demand for humidifiers in hospitals, schools, home, and healthcare entities is expected to boost the growth of the humidifier filters segment as filters are needed to prevent the growth of mold, mildew, fungi, and bacteria in the circulating air. Moreover, the increased prevalence of airborne infections such as tuberculosis leads to rise in demand of filters in humidifiers, thus affecting the segment growth positively.
North America dominated the market in 2016 owing to the presence of large geriatric population base and rising prevalence of chronic respiratory diseases. Furthermore, the major share of the North American market is due to availability of reimbursement in U.S. healthcare centres accounts, increasing healthcare awareness, improvement in healthcare infrastructure, increased number of outpatient surgeries, and economic growth favoured by broadening insurance coverage. The government health plans such as Medicaid and Medicare aided by CMS also drive the growth of therapeutic respiratory devices market in this region. These health plans cover the respiratory therapy using respiratory devices such as Continuous Positive Airway Pressure devices for treatment of COPD and Obstructive Sleep Apnea (OSA).
Asia pacific is expected to exhibit the fastest growth during the forecast period owing to factors such rising prevalence of asthma in adults as well as children and technological advancements. According to statistics released by the Global Initiative for Asthma (GINA), it is anticipated that, there will be an increase of an additional 100 million persons with asthma by 2025. Moreover, increasing need for home healthcare institutions is also a high impact rendering driver of this market in this region. Furthermore, rising disposable incomes and lifestyle-associated changes are also responsible for the significant growth rate in this region over the forecast period.
Key players of this market include Carefusion Corporation, GE Heathcare, Chart industries, Philips Healthcare, Compumedics Ltd., Smiths Medical, Covidien PLC, Invacare,Fisher and Paykel, and Mindray. Major players implement the strategies such as mergers, acquisitions, and strategic partnership to expand their market share.
For instance, in June 2015, chart industries announced to acquire Thermax which is a vaporizers manufacturing giant and also deals in power vaporizer solutions. Similarly, in November 2011, Invacare acquired the California-based company, Dynamic Medical Systems. The acquisition allowed Invacare to extend its chronic disease market in Western U.S and mark a footprint nationwide in rental capabilities.
Base year for estimation
Actual estimates/Historical data
2014 - 2015
Revenue in USD Million and CAGR from 2017 to 2025
North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
U.S., Canada, Spain, Germany, France, Italy, Switzerland, India, Japan, China, Brazil, Mexico, South Africa.
Revenue forecast, company share, competitive landscape, growth factors, and trends
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This report forecasts revenue growth at global, regional, & country levels as well as provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global therapeutic respiratory devices market report on the basis of product, technology, filters and region:
Product Type Outlook (Revenue, USD Million, 2014 - 2025)
Piston based hand held nebulizer
Fixed oxygen concentrators
Portable oxygen concentrators
Positive Airway Pressure Devices
Continuous positive airway pressure devices
Auto-titrating positive airway pressure devices
Bi-level positive airway pressure devices
Technology Outlook (Revenue, USD Million, 2014 - 2025)
HEPA filter technology
Hollow fiber filtration
Filters Outlook (Revenue, USD Million, 2014 - 2025)
Permanent cleanable filters
Mineral absorption pads
Positive airway pressure devices filter
Ultra fine foam inlet filters
Polyester non-woven fiber filters
Acrylic & Polypropylene fiber filters
Oxygen concentrator filters
Micro disk filter
Felt intake filter
Activated carbon filters
Regional Outlook (Revenue, USD Million, 2014 - 2025)
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